OREANDA-NEWS. December 10, 2009. The positive dynamics in demand for Ukrainian steel will remain in effect through the end of December. This statement was made by Mr. Vladimir Severnyuk, Deputy Minister of Industrial Policy. The November 2009 demand was 75% higher than in November 2008. The statistical data for the first decade of December 2009 show that this trend will continue in December.

So this significant increase in demand is not something unexpected, given a low comparative base. Most indicative, Millennium Capital thinks, is the monthly growth in demand of about 5-10%, which has been evident in the recent two months. This growth in demand for steel is POSITIVE news, and not only for steel makers. As a locomotive, they will pull some other industries, such as coal and coke production. Millennium Capital sees this news as a signal of recovery of the Ukrainian economy.